People Still Keep Cash Under Their Mattresses. Here's Why That's a Bad Idea

Is your money keeping you up at night? If you're like some people, it might be because there's a mountain of cash under your mattress. According to a new study by financial management app company Piere, 6% of Americans keep cash stashed beneath mattresses, beds and pillows. Others hide money under floorboards, in secret compartments and other places around the house. Why would anyone do this? Yuval Shuminer, co-founder and CEO of Piere, thinks it may be because they're worried about everything they're reading on the news. "With so much uncertainty in the economy, it's no surprise that people are looking for ways to keep their money close at hand," Shuminer said. "The resurgence in mattress stuffing isn't some whimsical trend. It's a sign that many Americans feel uneasy about the financial system and are searching for something they can trust." With wild swings in the stock market due to constantly changing tariffs and empty egg shelves at the grocery market, it's easy to understand ... Read full article.